Couple makes $6.25 million gift commitment for centennial Rector Scholarship initiative
In support of DePauw University’s commitment to the success of each student, an anonymous alumni couple has used estate planning to document their future gift for the Rector Scholarship endowment. Their deferred estate gift has a current value of $6.25 million and is the largest commitment to date for the Rector Scholarship Centennial Initiative.
“The liberal arts education we received at DePauw has been a foundation for us throughout our lives,” the anonymous donors said. “Supporting the Rector Scholarship is a way to help provide a similar educational opportunity for future generations and to express our gratitude for that education.”
Their future gift brings the total Rector Scholar Centennial Initiative cash and deferred estate commitments to $9.5 million -- moving closer to the goal of $14 million in new commitments, which eventually will increase the Rector Scholarship Endowment to $40 million.
Average annual income of about five percent is drawn from the endowment and used to provide student scholarships for academic high-achievers.
This new commitment follows $2.6 million in lead Rector Scholarship gifts announced in October 2018 and recent additional gift commitments from Keith ’84 and Patricia Lilly Kenter ’85 and another anonymous donor.
“As we approach the centennial of the Rector Scholarship, we are incredibly grateful for the support of these donors who have already invested in the Rector Scholarship endowment,” DePauw President D. Mark McCoy said. “The Rector Scholarship has provided the means for thousands of alumni to attend DePauw and will provide that same vital support for generations to follow.”
McCoy said the Rector Scholar program is one of the “most influential acts of philanthropy” in DePauw history.
“We celebrate its 100th year, and the gifts that continue to impact our students and the world,” he added.
Edward and Lucy Rowland Rector’s gift in 1919, creating the university’s preeminent merit award, is one of the most influential acts of philanthropy in DePauw’s history. The Rectors described their gifts as “investments in humanity, in the men and women who are to carry on the work of our country and the world when you and I are gone.”
Since its first awards a century ago, the scholarship has produced more than 4,000 DePauw graduates, many of whom are recognized among the university’s most distinguished alumni. Rector Scholars include former U.S. Rep. Lee Hamilton ’52, Nobel Prize-winning scientist Ferid Murad ’58, astronaut Joe Allen ’59, pharmaceutical executive Phyllis Ferrell ’94 and entrepreneur Angie Hicks ’95, among many others.
The centennial will culminate May 10-12 when former and current Rector Scholars and their families will gather on DePauw’s campus to commemorate the centennial of the Rector Scholarship endowment. To learn more about the Rector centennial, call (800) 446-5298; or email email@example.com.